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Lauren Forbus

laurenforbus@outlook.com +1(775) 815-1557

$ 29,000

Est. payment | -/mo

0.34 Acres Lot

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$ 29,000

Est. payment | -/mo

Save

0.34 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 260012250

Annual Tax Amount $104

Lot Size 0.340 Acres

Acres 0.34

Lot Dimensions 0.34

Property Description

Build-to-Income Opportunity in Wells, Nevada Lot 2 offers an excellent opportunity to build a new duplex with the potential for both homeownership and rental income in Wells, Nevada. The seller's development concept is to construct a duplex on this lot, giving a future owner the option to live in one unit while renting the other, or to use both units as an investment property. The property is located on a corner with convenient access and is directly across from a preschool. Water is on the property, with power and sewer available at the street, providing valuable utility infrastructure for future construction. For a qualified buyer, rental income from the second unit may be considered by certain lenders when determining loan qualification, subject to the lender's specific requirements, appraisal, rental-income guidelines and other financing conditions. This creates the potential to offset a portion of the cost of owning a new home while building long-term rental income. The seller has completed the survey as part of the planned subdivision, with the engineer's work and final City of Wells approval still pending. This is an opportunity to secure a residential building site with a thoughtful income-producing concept already envisioned. Buyer to verify all zoning, permitted uses, duplex requirements, lot configuration, utility availability, subdivision status, building requirements and City approvals. Proposed development and rental-income potential are subject to all applicable governmental approvals and lender requirements.

Location

State NV

County Elko

Zoning R2

Direction Corner of 1st St and Wells Ave.

Exterior

Utilities Available Electricity Available, Internet Available, Sewer Available, Water Available

View Y/N Yes

View City, Rural

Building

Lot Description Corner Lot, Corners Marked

Water Public

Schools

Elementary Schools Out Of Area

Middle Schools Out Of Area

High Schools Out Of Area

Others

Tax ID 002-594-002

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Special Listing Condition Agent Owned

Listed by Allie Bear Real Estate

Nearby Locations

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Lauren Forbus

REALTOR® Lic# S.199028

laurenforbus@outlook.com

+1(775) 815-1557

3708 Lakeside Dr. Ste 200, Reno, NV 89509

189 1st #Lot 2 Wells, NV 89835

Lauren Forbus

Key Details

Location

Exterior

Building

Schools

Others

189 1st #Lot 2